Question:

What are deferred tax assets and liabilities?

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Answer:

Deferred tax assets and liabilities (DTAs and DTLs) are created when there are temporary differences between book tax and actual income tax.

A deferred tax asset is created when you pay taxes in cash but haven't expensed them on the Income Statement yet.

A deferred tax liability is created when you have a tax expense on the Income Statement but haven't actually paid the tax in cash yet.

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How does $10 of Depreciation affect the three financial statements?

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What are some examples of non-recurring charges that would be added back to a company's EBITDA?

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What is Operating Margin?

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What's the difference between capital leases and operating leases?

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Where can you find Depreciation on the Income Statement?

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What are some ways that companies can manipulate their earnings?

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What is the difference between goodwill and intangible assets?

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What is gross profit?

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What is goodwill?

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Why isn't the Income Statement affected by changes in Inventory?

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What is gross margin?

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What does it mean if a company has negative Working Capital?

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How do you calculate LTM (last twelve months) financials?

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What happens to the three financial statements if we use PIK interest?

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Is it possible to have negative Shareholder's Equity? If so, how?

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A company makes a $100 cash purchase of equipment on Dec. 31. How does this impact the three statements this year and next year?

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How do the 3 financial statements tie together?

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How do you calculate Free Cash Flow?

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What flows into Retained Earnings?

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What are some of the major line items on the Balance Sheet?

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Does Goodwill get amortized?

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What is the difference between deferred revenue and accounts receivable?

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How is goodwill calculated?

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What is Goodwill Impairment?

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Walk me through the three financial statements

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What are some of the major line items on the Income Statement?

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What is working capital?

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What is the relationship between CapEx and Depreciation?

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Walk me through how $10 of Depreciation affects the three financial statements

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If depreciation is a non-cash expense, why does it affect the cash balance on the Cash Flow Statement?

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What are some of the major line items on the Cash Flow Statement?

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How does Inventory increasing by $10 affect the three financial statements?